1786 Mexico 8 Reales - Genuine Or Restrike?

looks good to me (thanks for the Numista link Hondo )

Edge photo #1 shows a clear overlap of the design, however edge photo #3, very close to 180 degrees opposite, should have a corresponding overlap, but I don't see one. You might find it on closer examination. Without both edge design overlaps present, it's more likely a restrike since a regal standard parallel edging machine was not used.

Spanish colonial blanks were upset and had their edge design impressed using a parallel edging machine. Such devices always impress a design of equal length on opposite sides as the blank is rotated through the device. To avoid leaving a gap in the design, the operator typically slightly over-rotated the blank causing the overlaps of the edge design. The mechanical nature of such a machine (see Castaing machine in Wikipedia) would always cause the overlaps to be the same length and directly opposite of each other. The blanks were always upset/edged before striking in an uncollared screw press. This example looks like it might have been edged after the striking. One thing about the restrikes intended for trade with China, they are typically seen with the Mo mintmark as these were much favored over any others.

Many of the groups that made the most convincing restrikes, circa late 1800s through the early 1900s, clearly used uncollared screw presses but used a different type of edging machine.

Some of us use the term "market acceptable" for coins like these because so few sellers and buyers will spend the time to learn how to distinguish regal from restrike. The TPGs will not spend the time to look for these details (if the reviewers even are aware of them) for a coin that is not a very valuable variety. We hope they will weigh and do a quick XRF on the valuable ones.